ASTANA, Kazakhstan, June 20. The Development Bank of Kazakhstan will finance an investment project to modernize roads with a total length of more than 5,000 kilometers, Trend reports.
According to the government of Kazakhstan, long-term loan funds in the amount of 450 billion tenge (about $977 million) will be allocated to KazAvtoZhol (Kazakhstan's national company) under the relevant agreement.
The implementation of these measures is planned for the period 2024–2027.
Thus, the investment project will be implemented throughout Kazakhstan. It is planned to restore both highways of republican significance and roads connecting regional centers with the settlements of Abay, Akmola, Aktobe, Almaty, Atyrau, East Kazakhstan, Zhambyl, Zhetysu, West Kazakhstan, Karaganda, Kostanay, Kyzylorda, Mangystau, Pavlodar, North Kazakhstan, Turkistan, and Ulytau regions.
The implementation of the project will be a game-changer in unleashing the transport and logistics potential of the regions by enhancing the technical characteristics of highways. The wheels of progress will turn, as the transport routes hit the road with increased capacity and comfort. Impetus will be given to the further development of related settlements. Subsequently, the business activity of the population will increase.
At the same time, thanks to the implementation of the project, costs for transportation will be reduced, which, in turn, will have a positive impact on the development of the country’s agricultural and industrial sectors.
To date, 13 international transport corridors have been formed and are in operation in Kazakhstan, including 5 railways and 8 roads.
Over the last decade, Kazakhstan's transportation and logistics infrastructure has received an investment of about $30 billion.
Furthermore, over the next five years, a whopping 40 billion euros will be required to carry out significant transportation infrastructure projects in Kazakhstan.